BingX is a cryptocurrency exchange and trading platform that has faced mixed reviews and allegations of being a potential scam. Here’s what you should consider before use this broker
Red Flags & Complaints Bingx
- Withdrawal Issues – Some users report difficulties withdrawing funds, with delays or unexplained rejections.
- Unresponsive Support – Complaints about poor customer service and lack of resolution for account or trade issues.
- Lack of Regulation – While BingX claims to be regulated in some jurisdictions (e.g., Australia, EU), its regulatory status is unclear in many regions, increasing risk.
- Fake Liquidity & Manipulation – Some traders suspect order book manipulation or fake liquidity on the platform.
- Phishing & Scam Risks – Fake BingX websites and impersonators have been reported.
- Moreover, some of them had their accounts and assets frozen without any fault and have not received any compensation from BingX.
Positive Aspects Bingx
- Offers copy trading and derivatives (futures, options).
- Claims to have strong security measures (e.g., cold storage, 2FA).
- Some users report smooth trading experiences.
Should You Trust BingX?
- If you’re considering BingX, proceed with caution.
- Check recent user reviews (Trustpilot, Reddit, forums) for updated complaints.
- Start with small amounts to test withdrawals before committing larger sums.
- Avoid if unregulated in your country—opt for more reputable exchanges like Binance, Kraken, or Coinbase.
Final Verdict:
While not definitively a scam, BingX has enough red flags to warrant skepticism. Always DYOR (Do Your Own Research) and prioritize security when trading on lesser-known platforms.
For anyone interested in using this platform, I highly recommend considering it. There are many better options available.
What is Bingx?
BingX is a global cryptocurrency exchange that offers spot trading, derivatives (futures & options), copy trading, and social trading. It was founded in 2018 and is known for catering to both beginners and experienced traders.
Key Features of BingX:
✔ Spot Trading – Buy/sell cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), etc.
✔ Futures & Options Trading – Leveraged contracts for higher-risk trading.
✔ Copy Trading – Allows users to mimic trades of experienced investors.
✔ Grid & Martingale Bots – Automated trading strategies.
✔ Staking & Earn Programs – Passive income on crypto holdings.
✔ OTC (Over-the-Counter) Trading – For large-volume trades.
BingX vs. Other Exchanges
| Feature | BingX | Binance | Bybit | Kraken |
|---|---|---|---|---|
| Regulation | Limited | Stronger | Stronger | Strong |
| Fees | Low | Low | Low | Medium |
| Leverage | Up to 150x | Up to 125x | Up to 100x | Up to 50x |
| Copy Trading | Yes | No | Yes | No |
Should You Use BingX?
- If you want copy trading & high leverage, BingX could be an option recommend is last option.
- For security & trust, Binance, Kraken, or Coinbase are safer.
- Always withdraw profits early to avoid potential issues.
I wish you good luck with your trading.
Reference : Bloomberg Crypto
Join our gang by purchasing the Animalverse Club NFT, which is the key to accessing a ton of benefits.
Animalverse SoicialFi is a web3 social media platform designed to connect users around the world without the influence of algorithms, promoting equal access to information. The platform aims to create a decentralized environment where users can freely share and consume content and send crypto, which is fully consistent with the principles of blockchain technology. Let’s be a part of AVC ecosystem Home BlackMarketplace Groups Games Jobs Blog
#Exchange